Palm oil price during the last week dropped across the world. Palm oil dropped the most in more than a week on concern that lower exports from Malaysia, the worlds second-biggest producer, may increase stockpiles this month for the first time in 2010. October-delivery futures fell 1.6 percent to 2,434 ringgit ($763) a metric ton, the biggest intraday drop since July 19, and paused at 2,444 ringgit at the midday break on the Malaysia Derivatives Exchange. Exports from Malaysia dropped 4.1 percent in the first 25 days of July to 1,074,329 tons from the same period in June, surveyor Intertek said yesterday. Shipments fell 0.9 percent to 1,103,439 tons, rival Societe Generale de Surveillance said. China, India, Pakistan and Indonesia mark their important festivals in the quarter ending September, with communal meals stoking edible oils consumption.
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